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. >> coming up on "the willis report", obama and the house republicans not letting on their fiscal cliff stands. the fiscal cliff symbolizes time over tragedy. it will soon be a loss for many new york city commuters. but the tablet top your christmas wish list? we have the best of the best on "the willis report" coming up next can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is is trick to t my spot? [ male announcer break from the holiday stress. save on ground shipping at fedex office. heartburn symptoms causedelieve by acid reflux disease.y stress. osteoporosis-related bone fractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach condions may still exist. talk to your doctor about nexium. i have obligations. cute obligations, but obligatio.ming. i need to rethink th core of my portfolio. what i really need is sleep. introducing the ishares core, bu
. >> coming up on "the willis report", obama and the house republicans not letting on their fiscal cliff stands. the fiscal cliff symbolizes time over tragedy. it will soon be a loss for many new york city commuters. but the tablet top your christmas wish list? we have the best of the best on "the willis report" coming up next can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is...
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. >> coming up on "the willis report", obama ad the house republicans not letting on their fiscal cliff stands. the fiscal cliff symbolizes time over tragedy. it will soon be a loss for many new york city commuters. but the tablet top your christmas wish list? christmas wish list? have before copd... i tk my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and that means...fishn! symbicorts for copd including chronic bnchitis and emphysema. it should not be taken more an twice a day. symbirt may increase your risk of lung infections, osteoporosis, d some eye problems. tell your doctor if you have a heart condition or hi blood pressure before taking it. with copd, i thought i'd miss our family tradition. now symbicort significantly improves my lung function, starting
. >> coming up on "the willis report", obama ad the house republicans not letting on their fiscal cliff stands. the fiscal cliff symbolizes time over tragedy. it will soon be a loss for many new york city commuters. but the tablet top your christmas wish list? christmas wish list? have before copd... i tk my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor...
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Nov 29, 2012
11/12
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. >>> and for the rest of us, it was another day of facing the fiscal cliff. white house negotiators head to capitol hill today. they're going to sit down with congressional leaders and talk about specific proposals from both sides for an agreement to avoid the fiscal cliff. nbc's tracie potts joins from us washington with those details. tracie, good morning. >> reporter: lynn, good morning. so, it may be no deal today, but perhaps moving forward on these spending cuts and tax increases that are looming at the end of the year. some very specific meetings with a handful of lawmakers who could have a huge impact on your paycheck come january 1st. . treasury secretary tim geithner and white house legislative chief rob neighbors bring the president's deficit-cutting plan to capitol hill today. >> i am very open to a fair and balanced approach to reduce our deficit. >> reporter: republicans want to know, does that approach include the government spending less money? >> we've put revenue on the table, as long as it's accompanied by serious spending cuts. >> reporter
. >>> and for the rest of us, it was another day of facing the fiscal cliff. white house negotiators head to capitol hill today. they're going to sit down with congressional leaders and talk about specific proposals from both sides for an agreement to avoid the fiscal cliff. nbc's tracie potts joins from us washington with those details. tracie, good morning. >> reporter: lynn, good morning. so, it may be no deal today, but perhaps moving forward on these spending cuts and tax...
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Nov 30, 2012
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says white house offer on fiscal cliff is unbalanced. bret, tell me i'm wrong here, it seems like the media is setting unto blame the republican for this outrageous offer from the president, go. >> what's the offer? what? >> a massive tax increase, no entitlement reform and no restraint on borrowing. now, there's an offer. >> in other words, in other words, there's no plan. this should be a story that the whole debate has been going on for two years about having a package of spending cuts to go along with the package of tax increases. and now, we've got the senate saying, that the one problem, entitlements is now off the table, and meaning they're no longer serious and the white house saying we don't have plans to cut anything. in other words, there is no plan. that should be the story. and just like, stuart, the entirety of 2012 campaign. nobody brought up that the barack obama didn't have a plan the entire-- it's mind-boggling. stuart: i'm looking at the so-called offer, if implemented would put mesh-- measured america straight into re
says white house offer on fiscal cliff is unbalanced. bret, tell me i'm wrong here, it seems like the media is setting unto blame the republican for this outrageous offer from the president, go. >> what's the offer? what? >> a massive tax increase, no entitlement reform and no restraint on borrowing. now, there's an offer. >> in other words, in other words, there's no plan. this should be a story that the whole debate has been going on for two years about having a package of...
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Nov 30, 2012
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house speaker boehner says fiscal cliff talks, well, they have gone, quote, almost nowhere. that is encouraging, isn't it? when will both sides finally make progress towards a deal? "wall street journal's" gerald seib met with senate minority leader mitch mcconnell. he will be here to tell us what he had to say. tracy: i'm excited. new study says which americans pay the most in taxes and probably not who you think or maybe it is. it raises questions who is really not paying their fair share. ashley: i think it is me by the way. if fiscal cliff wasn't bad enough, food prices will spike in the new year, you remember the drought, plus inaction in congress will cost you more at the checkout. tracy: i remember jeff flock out in those fields right? ashley: can't forget that. tracy: time for stocks as we do every 15 minutes. lauren simonetti on the floor of new york stock exchange today. we got another sign of consumer weakness, didn't we? >> tracy and ashley, consumer spending fell in october, first decline in five months that is keeping a cap on stocks. all three major averages i
house speaker boehner says fiscal cliff talks, well, they have gone, quote, almost nowhere. that is encouraging, isn't it? when will both sides finally make progress towards a deal? "wall street journal's" gerald seib met with senate minority leader mitch mcconnell. he will be here to tell us what he had to say. tracy: i'm excited. new study says which americans pay the most in taxes and probably not who you think or maybe it is. it raises questions who is really not paying their fair...
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Dec 4, 2012
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house republicans unveiling a bold proposal to avoid a so-called fiscal cliff. the white house didn't waste any time attacking it. kelly wright is live in washington with more on this. good morning, kelly. >> good morning to you. the back and forth is continuing in a letter with president obama. american people expect leaders to find fair middle ground with the nation's most pressing challenges. with that they propose is a counter over for the fiscal cliff. the republican plan has will00 billion for tax freerm 900 billion in mandatory spending cuts and 300 billion in discretionary cuts. the proposal falls short of what the president wants and cannot be taken seriously. >>> we understand they don't agree with everything the president has put on the table but we haven't seen alternatives for that. they have spoken about an avenue and that challenge is welcome. republican leaders have been adamant they don't believe rates ought to go up on the top 2 percent of wealthiest americans. the american people overwhelmingly disagree. the rates have to rise and republicans
house republicans unveiling a bold proposal to avoid a so-called fiscal cliff. the white house didn't waste any time attacking it. kelly wright is live in washington with more on this. good morning, kelly. >> good morning to you. the back and forth is continuing in a letter with president obama. american people expect leaders to find fair middle ground with the nation's most pressing challenges. with that they propose is a counter over for the fiscal cliff. the republican plan has will00...
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Nov 29, 2012
11/12
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also, who's talking to congressional leaders about the fiscal cliff? tim geithner. obama goes on the road, look at that video. tim geithner arriving at the white house. capitol hill, dow industrials up 63 points in the early going this there's a morning. recovering investment banker carol roth is here, charles payne is here and nicole petallides on the floor. she looks really angry, on the floor of the stock exchange. new at 10:00, is the mortgage deduction on the table in the fiscal cliff talks, the answer is yes. >> at this point everything is on the table. the challenges you have to question where the limit is. do we want people to the grandfathered in, you don't want anyone to get a new mortgage, we have ridiculously low interest rates, stocks in terms of prices, we don't need it to the grandfathered and the table for the future. stuart: i don't believe anyone is saying abolish the mortgage interest deduction. and a certain amount year is what they were saying. and the interest on it is -- they lower that. charles: there are some people that are derivative. stua
also, who's talking to congressional leaders about the fiscal cliff? tim geithner. obama goes on the road, look at that video. tim geithner arriving at the white house. capitol hill, dow industrials up 63 points in the early going this there's a morning. recovering investment banker carol roth is here, charles payne is here and nicole petallides on the floor. she looks really angry, on the floor of the stock exchange. new at 10:00, is the mortgage deduction on the table in the fiscal cliff...
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Dec 6, 2012
12/12
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in firms of the discussions of the fiscal cliff, the white house is focused solely on cuts for top earners. almost no discussion of unemployment insurance and payroll taxes, the farm bill which would include the price of milk and food stamps on a broader level. at what point do these become sticking points in the negotiation? >> reporter: they're going to become sticking points and probably before the end of the year, because remember there are a couple of things going on. if the president gets a deal on rates, republicans are going to be less inclined to go along with some of the other things, like extended unemployment insurance and some sort of extension perhaps in different form of the payroll tax cut. but also to avoid the sequestration, the congress has got to find some way to have cuts in the interim. if they kick the can down the road they have to have month by month cuts. the farm bill, talking $10 billion a month to in effect buy off the sequestration while they negotiate, the farm bill if you take the senate bill, $23 billion in subsidies cut overall, $4 billion as mentioned fro
in firms of the discussions of the fiscal cliff, the white house is focused solely on cuts for top earners. almost no discussion of unemployment insurance and payroll taxes, the farm bill which would include the price of milk and food stamps on a broader level. at what point do these become sticking points in the negotiation? >> reporter: they're going to become sticking points and probably before the end of the year, because remember there are a couple of things going on. if the...
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Dec 6, 2012
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you and i were into the fiscal cliff and the disails. we believe the country is at risk and our kids and grandkids. we sent ainsle ainsley earhardto the streets to ask people what they know about the fiscal cliff. it was a little chilling. take a look. >> what is the fiscal cliff? >> we're from new mexico out here to clean up. >> no idea. >> the cliff? how tall is it? >> i have no idea. >> where is it? >> can i google it? >> bad news. it's bad news. fiscal cliff. >>> end of the world, apparently, right. >> if you wanted to take one of these cliff bars, if you wanted to take one that tasted like the fiscal cliff. >> which one would you choose and why? the one that tastes like crap. >> we're all going to fall off the face of the earth. >> they need to fix it. that's what they're paid for. >> what happens if they don't? >> we're going to lose some money. >> it reminds me of something i learned in school, i'm going to guess some like of cliff, avalanche. >> how tall is it? >> i'd say at least like 370 some feet. >> i don't know. it sounds li
you and i were into the fiscal cliff and the disails. we believe the country is at risk and our kids and grandkids. we sent ainsle ainsley earhardto the streets to ask people what they know about the fiscal cliff. it was a little chilling. take a look. >> what is the fiscal cliff? >> we're from new mexico out here to clean up. >> no idea. >> the cliff? how tall is it? >> i have no idea. >> where is it? >> can i google it? >> bad news. it's bad...
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Nov 29, 2012
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and now to john boehner. >> -- sending the economy over the fiscal cliff. two weeks ago we had a very productive conversation at the white house. based on where we stand today, i would say two things. first, despite claims that the president supports a balanced approach, democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. campaign style rallies and one-sided leaks in the press are nolts the way to get things done here in washington. majority leader and i just had a meeting with the treasury secretary. it was frank and it was direct. i was hopeful we'd see a specific plan for cutting spending. we sought to find out today what the president really is willing to do. i remain hopeful that productive conversations can be had in the days ahead. but the white house has to get serious. yesterday our leadership t
and now to john boehner. >> -- sending the economy over the fiscal cliff. two weeks ago we had a very productive conversation at the white house. based on where we stand today, i would say two things. first, despite claims that the president supports a balanced approach, democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. this is not a game. jobs are on...
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at issue, the $800 billion in new tax revenue he proposed in a fiscal cliff deal which the white house quickly rejected because it does not raise taxes on the wealthy but aims to get the money through cuts in deductions. senator jim demint denounced boehner's plan as a tax hike that will, quote, destroy american jobs and allow politicians in washington to spend even more. senate minority leader mitch mcconnell also distanced himself from the boehner plan declining to endorse it yesterday. >> we've wasted enormous amount of time here sparring back and forth in public, and it strikes me it's a good time to get serious about the proposals. so i have no other particular observation than i commend the house republican leadership for trying to move the process along and getting to a point where hopefully we can have a real discussion. >> but why is the the gop still hot on its desire to raise money through cuts and deductions rather than an actual increase in the top end tax rate? well, i think it's likely because the most ductions in states happen to be the higher blue states. in other word
at issue, the $800 billion in new tax revenue he proposed in a fiscal cliff deal which the white house quickly rejected because it does not raise taxes on the wealthy but aims to get the money through cuts in deductions. senator jim demint denounced boehner's plan as a tax hike that will, quote, destroy american jobs and allow politicians in washington to spend even more. senate minority leader mitch mcconnell also distanced himself from the boehner plan declining to endorse it yesterday....
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to talk about ways the country can avoid calm coming to a fiscal cliff. this just hours after she spoke at a women's dinner here is what she had to say. >> we need to grow our mobile expertise really quickly. one of the things we concluded is that yes, we need to hire one by one, won't it be great if we got shrugs of people that were a team, already knew how to work together? so we've been looking at aqua hires, we've done our first one. >> in addition, myer says yahoo will possibly look to partnership was other companies. more bad news on the hewlett-packard front. deals with the falout with autonomy write down, moody's cut the ratings today, three level as above junction status. moody's says it's worried about hp ability to compete as well as numerous execution challenges. and apple is winning in the netherland. a dutch court banned sale of some gal yachlsy product that's allegedly infringe on the apple photo navigation patents. the ban only applying to older products that don't run on updated photo galleries but samsung still going to have to pay apple
to talk about ways the country can avoid calm coming to a fiscal cliff. this just hours after she spoke at a women's dinner here is what she had to say. >> we need to grow our mobile expertise really quickly. one of the things we concluded is that yes, we need to hire one by one, won't it be great if we got shrugs of people that were a team, already knew how to work together? so we've been looking at aqua hires, we've done our first one. >> in addition, myer says yahoo will possibly...
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jenna: with the united states heading towards that fiscal cliff house republicans are now offering up a plan of their own to avert that combination of spending cuts and tax hikes. it's set to welcome us all on january 1st if they don't have an agreement. i'm jenna lee. jon: some kind of welcome that would be. i'm jon scott. within hours of seeing the proposal the white house slammed the g.o.p. offer saying quote their plan provides nothing new and provides no details on what deductions they'll limb nature, loopholes they will close or which medicare savings they would achieve. house speaker john boehner inc insists his offer is the best one on the table calling it a credible plan that deserves serious consideration by the white house. jenna: mike emanuel is with us. certainly a challenge to find this ideal plan. what is holding it up. >> reporter: the chairman of the senate budget committee wants a large come proceed hence i have deal in the range of $5 trillion and says a grand bargain can get done if everybody kaoels cool and doesn't overreact to every valley over the net. he this i
jenna: with the united states heading towards that fiscal cliff house republicans are now offering up a plan of their own to avert that combination of spending cuts and tax hikes. it's set to welcome us all on january 1st if they don't have an agreement. i'm jenna lee. jon: some kind of welcome that would be. i'm jon scott. within hours of seeing the proposal the white house slammed the g.o.p. offer saying quote their plan provides nothing new and provides no details on what deductions they'll...
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Dec 5, 2012
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we begin with negotiations to avert the so-called fiscal cliff both republicans and white house hold their lines and no formal talks yesterday. president obama said he wasn't ruling out some reductions in entitlement programs such as medicare and social security, meanwhile house speaker john boehner has to win over hard liners in his own party. susan mcginnis is following it all. >> reporter: hi. good morning. there are some glimmers of common ground here among the two sides that could form the basis of a deal. the president is now talking about actually lowering the tax rate for the top 2% not now but later. and republicans are now taking some heat over their latest plan a lot of it from within their own party. >> five, four -- >> reporter: house speaker john boehner led the countdown to the lighting of the capitol hill christmas tree last night. >> one. >> reporter: but a different countdown weighs on the minds of these lawmakers, the countdown to the fiscal cliff. a series of tax increases and spending cuts due to kick in at the end the year. >> god bless us, everyone. >> reporter
we begin with negotiations to avert the so-called fiscal cliff both republicans and white house hold their lines and no formal talks yesterday. president obama said he wasn't ruling out some reductions in entitlement programs such as medicare and social security, meanwhile house speaker john boehner has to win over hard liners in his own party. susan mcginnis is following it all. >> reporter: hi. good morning. there are some glimmers of common ground here among the two sides that could...
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. >> speaker of the house john boehner giving his take on the lack of progress made in the fiscal cliff talks. and adds tensioas tensions rise capitol hill obama will be pushing his fiscal cliff plan at a toy factory today. >> peter doocy has more on that. >> the senate majority leader mitch mcconnell listening to tim geithner layout the proposal to avoid the cliff. it was so one-sided rich mcconnell reportedly said he burst into laughter. republicans claiming three want a balanced approach and they want to raise revenue without killing jobs and they are going public with their frustrations. >> i am disappointed in where we are. i am disappointed in what's happened over the last couple of weeks. but going over the fiscal cliff is , i am trying to resolve it. >> democrats want republicans to slow down and realize what they are offering is not new. it's the sail debt pl-- same de plan president obama had in the american jobs act. it's not a new stimulus it is something that has been on the table for over a year. >> something should a political price be paid in order for congress to do its
. >> speaker of the house john boehner giving his take on the lack of progress made in the fiscal cliff talks. and adds tensioas tensions rise capitol hill obama will be pushing his fiscal cliff plan at a toy factory today. >> peter doocy has more on that. >> the senate majority leader mitch mcconnell listening to tim geithner layout the proposal to avoid the cliff. it was so one-sided rich mcconnell reportedly said he burst into laughter. republicans claiming three want a...
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because of that gop lawmakers are saying that means the white house wants to go over the fiscal cliff to make it a point. >> howard dean said it patti murray who ran the senator ideal committee. i think the presidency is a political victory for his party as they go over the cliff. i know republicans are concerned there is going to be a secondary session. >> the white house proposal raises taxes 1.6 trillion over a decade. republicans close loopholes and get rid of deductions. they say the mast won't work. >>> it is still out of balance. it is 800 million worth of revenues. he said he is going to do that by lowering rates. when you look at the map it doesn't work. >> the house majority with kevin mccarthy said yesterday the speaker moved to the middle by putting revenue on the table. jay carney also said the boehner plan is quote pagic beans and fair redust. >>> peter doocy, live in washington. thank you. >>> chaos in cairo. egyptian president mohammed morsi returning to the presidential palace overnight. he left amid clashes between police and 100,000 protestors. look at that. they ar
because of that gop lawmakers are saying that means the white house wants to go over the fiscal cliff to make it a point. >> howard dean said it patti murray who ran the senator ideal committee. i think the presidency is a political victory for his party as they go over the cliff. i know republicans are concerned there is going to be a secondary session. >> the white house proposal raises taxes 1.6 trillion over a decade. republicans close loopholes and get rid of deductions. they...
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out avoiding this fiscal cliff. the president sat down with a couple, a teacher, a man who works at an auto dealership. they live with her family. the family says they're looking at a couple month's rent if they have to pay more taxes. the president reiterated he absolutely will not sign any deal that does not increase taxes on the wealthy in this country. he said the problem is solvable. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives you a sense of the costs involved in very personal terms. >> reporter: now in another development here on capitol hill minority leader mitch mcconnell on the senate side ended up filibustering his own bill here in the senate yesterday. this was a move president obama wants to raise the debt ceiling without much interference from congress. he has criticized that. he filibustered his own bill after democrats called his bluff to vote on it. lynn. >>> tracie pots for us in washington. tracie, thanks. >>> new jer
out avoiding this fiscal cliff. the president sat down with a couple, a teacher, a man who works at an auto dealership. they live with her family. the family says they're looking at a couple month's rent if they have to pay more taxes. the president reiterated he absolutely will not sign any deal that does not increase taxes on the wealthy in this country. he said the problem is solvable. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to...
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." ♪ ♪ >> andrea: 32 days until the nation is set to go over so-called fiscal cliff and president obama is still in campaign mode. in hatfield, pennsylvania, the president was demonizing republicans -- shocker. meanwhile, house speaker john boehner seems willing to negotiate, as long as it's in good faith. >> it's not acceptable to me and i don't think it's accept to believe you for a handful of republicans in congress to hold middle class tax cuts hostage because they don't want tax rates on upper income folks to go up. >> let's not kid ourselves. i'm willing to move forward in good faith. our original framework still stands. >> andrea: the republican leader mitch mcconnell said he burst in laughter when tim geithner outlined the president's plan. what's next? rush limbaugh and charles krauthammer want republicans to walk away and let obama own the mess. >> the best thing to do is back out of this and let obama and democrats have it and do what you want to do. that will happen anyway. i don't know about you, i don't want my fingerprints on this. >> this is almost unheard of. what do th
." ♪ ♪ >> andrea: 32 days until the nation is set to go over so-called fiscal cliff and president obama is still in campaign mode. in hatfield, pennsylvania, the president was demonizing republicans -- shocker. meanwhile, house speaker john boehner seems willing to negotiate, as long as it's in good faith. >> it's not acceptable to me and i don't think it's accept to believe you for a handful of republicans in congress to hold middle class tax cuts hostage because they...
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he tweeted "the house will not adjourn the 112th congress until a credible solution to the fiscal cliff has been announced." the house will not adjourn. not! but don't worry, he will be on to the next stage soon enough. it is kind of ironic, since, of course they adjourned today until next week. this is a wednesday. but anyway, that's bargaining is the next stage. and of course bargaining means that you hope to be able to compromise. you hope to be able to avoid the inevitable. the poster boy for this one is oklahoma senator tom coburn who said today that he would rather see tax rates go up than close loopholes because then he thinks he can get tax reform passed in the future. a little bit of wishful thinking. >> i know we have to raise revenue. i don't really care which way we do it. actually, i would rather see the rates go up than do it the other way because it gives us greater chance to reform the tax code and broaden the base in the future. >> jennifer: so he's not giving in. he's just bargaining now to see what he can get later. and then we've got the fourth stage which is depress
he tweeted "the house will not adjourn the 112th congress until a credible solution to the fiscal cliff has been announced." the house will not adjourn. not! but don't worry, he will be on to the next stage soon enough. it is kind of ironic, since, of course they adjourned today until next week. this is a wednesday. but anyway, that's bargaining is the next stage. and of course bargaining means that you hope to be able to compromise. you hope to be able to avoid the inevitable. the...
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just 28 days left and fiscal cliff talks are at a standstill over taxes and entitlements. >> they must have forgotten that republicans have continued to hold the majority in the house. but, you know, the president's idea of a negotiation is roll over and do what i ask. we need to find common ground and we need to find it quickly. >> could the only thing standing in the way of that would be a refusal by republicans to accept rates have to go up on the wealthiest americans and i don't really see them doing that. >> thank you very much. mr. president. >> meanwhile as nato prepares to deploy patriot missile defenses to turkey, hillary clinton warns syria against moving its chemical weapons. >> this is a red line for the united states. i'm not going to telegraph in any specifics what we are would do in the event of credible evidence that the assad regime has resorted to using chemical weapons against their own people, but suffice it to say, we are certainly planning to take action if that eventuality were to occur. >> and while washington buzzes over this video tribute to clinton, some are
just 28 days left and fiscal cliff talks are at a standstill over taxes and entitlements. >> they must have forgotten that republicans have continued to hold the majority in the house. but, you know, the president's idea of a negotiation is roll over and do what i ask. we need to find common ground and we need to find it quickly. >> could the only thing standing in the way of that would be a refusal by republicans to accept rates have to go up on the wealthiest americans and i don't...
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proposal to avert the fiscal cliff. >> i don't know much about the government. is that a good sign if they make a proposal? >> when you do that to me, i know you're not taking me seriously, right? >> sometimes getting really stupid offers, also not polite. >>> plus, an update on the condition of the former president george h.w. bush. he had a health scare in houston yesterday. we're going to tell you how he's doing this morning. >>> but first let's get to the news live at 5:30 here at 30 rock in new york city. this morning, president obama departs to pennsylvania where he will continue his campaign sales pitch on how to solve the country's fiscal challenges. yesterday treasury secretary tim geithner met with republicans to unveil the white house's budget proposal which includes $1.6 trillion in new tax revenue over ten years as well as $50 billion in additional stimulus spending. with limited details on spending cuts, the gop's reaction, less than encouraging. senator mitch mcconnell reportedly burst into laughter while geithner was in the middle of outlining ob
proposal to avert the fiscal cliff. >> i don't know much about the government. is that a good sign if they make a proposal? >> when you do that to me, i know you're not taking me seriously, right? >> sometimes getting really stupid offers, also not polite. >>> plus, an update on the condition of the former president george h.w. bush. he had a health scare in houston yesterday. we're going to tell you how he's doing this morning. >>> but first let's get to the...
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the big story is still and will remain the fiscal cliff. every time a policymaker on capitol hill or in the white house makes a speech about this or a station to the media, the markets move very aggressively. yes, there is a case in point where boehner and obama said there was progress that could be made towards a compromise. the markets turn around to 220 points on the dow. but on 20 points and the dow having been down 110 closed up 106 points. that's because john boehner said they could well be some progress on a compromise. that flies in the face of harry reid saying little progress is made. that is what is driving the u.s. markets and the global markets as well. the fed's beige book says there is a tepid growth. you have the housing market against that manufacturing and superstorm sandy. interesting stats expected out of the auto sectors. this could be good news. we think there may ab a pace of somewhere in the region of 15.2 million cars sold in november. the fact is that americans got very old fleet of cars. the average age of car now
the big story is still and will remain the fiscal cliff. every time a policymaker on capitol hill or in the white house makes a speech about this or a station to the media, the markets move very aggressively. yes, there is a case in point where boehner and obama said there was progress that could be made towards a compromise. the markets turn around to 220 points on the dow. but on 20 points and the dow having been down 110 closed up 106 points. that's because john boehner said they could well...
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six governors, democrats, and republicans weigh in on the fiscal cliff today. what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy. >> that's just not going to happen. >> reporter: the pentagon could take the biggest hit from president obama told defense experts monday, don't worry. >> even as we make very tough fiscal choices, we're going to keep investing in these programs. >> reporter: he went online on youtube and twitter explaining why he thinks the rich should pay more. going over the fiscal cliff could cost america jobs. >> we're only expanding 2% right now. it needs to be considerably higher to bring more people off unemployment. >> reporter: for the jobless, president obama is asking congress for million
six governors, democrats, and republicans weigh in on the fiscal cliff today. what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy....
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." >>> another day of fiscal cliff drama. stocks reversed early gains and fell shortly after house speaker john boehner dashed hopes that lawmakers were getting closer to agreeing on a year-end budget deal. but all three major markets did bounce back by the afternoon. >>> economic data was positive thursday, but we'll see what impact there is today from grim news out of europe. eurozone unemployment has hit another record high at 11.7% in october. >>> the number of retailers posted poor sales hammered by superstorm sandy's impact on the northeast. >>> a bankruptcy judge has given hostess final clearance to start selling off assets and approved $1.8 million in bonuses for company executives. >>> verizon wireless tops this year's "consumer reports" ranking of major carriers. it was at&t that came in last behind sprint and t-mobile, except among 4g users where it was the best. >>> and where is the best country to be born in 2013? well, when factoring in life expectancy, divorce rates and rainfall, it's switzerland, according to
." >>> another day of fiscal cliff drama. stocks reversed early gains and fell shortly after house speaker john boehner dashed hopes that lawmakers were getting closer to agreeing on a year-end budget deal. but all three major markets did bounce back by the afternoon. >>> economic data was positive thursday, but we'll see what impact there is today from grim news out of europe. eurozone unemployment has hit another record high at 11.7% in october. >>> the number...
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comes face to face with the fiscal cliff. tonight on "special report," house speaker john boehner says there has been no progress in negotiations with the president. he is again calling on mr. obama to come up with a new proposal. vice president joe biden says a deal could be done in 15 minutes. all this comes as the government announces a gain of 146,000 jobs in the month of november. the unemployment rate fell to 7.7%. that is the lowest in four years but that was mostly due to people who stopped looking for work. both sides agree the u.s. does not want to follow down the path of greece. what is to blame there? too much austerity or too much taxation? we'll look at the problems inside his own party, for speaker boehner. it's friday. that means the lightning round with the panel. "special report" from washington starts at 6:00 eastern. now back to new york and "the five." ♪ ♪ >> bob: kay. there is music for you. on december 3 last year, 16-year-old tyler alfred from oklahoma was driving under the influence and crashed hi
comes face to face with the fiscal cliff. tonight on "special report," house speaker john boehner says there has been no progress in negotiations with the president. he is again calling on mr. obama to come up with a new proposal. vice president joe biden says a deal could be done in 15 minutes. all this comes as the government announces a gain of 146,000 jobs in the month of november. the unemployment rate fell to 7.7%. that is the lowest in four years but that was mostly due to...
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in the fiscal cliff negotiations. let's take a look at the gop offer. this is their version. it cuts $2.2 trillion from the deficit over ten years. that number also includes entitlement reforms raising the age for social security and medicare and so forth as well as $800 billion that they say they would throw into the pot in new tax revenue that would come from tax reform, from cutting tax loopholes and the like. joined now, very pleased to have with us california republican ken mccarthy, the house majority whip. congressman, welcome. good to see you this morning. >> thanks for having me. martha: so you put your number out there, you know, all kinds of response across the board this morning saying that it is, you know, equally laughable, ridiculous. there's no way that the white house is going to counter that offer. what do you think about that? >> well, i think that's sad, because think about what this president said when he campaigned. he said he wanted a balanced approach. he said he wanted 800 billion in revenue a
in the fiscal cliff negotiations. let's take a look at the gop offer. this is their version. it cuts $2.2 trillion from the deficit over ten years. that number also includes entitlement reforms raising the age for social security and medicare and so forth as well as $800 billion that they say they would throw into the pot in new tax revenue that would come from tax reform, from cutting tax loopholes and the like. joined now, very pleased to have with us california republican ken mccarthy, the...
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cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congress find a gentler way to solve the crisis in the federal budget. here's how treasury secretary tim geithner put it on cnbc. >> is the administration prepared to go over the fiscal cliff? >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. ren, it's only 2%. >> pelley: by 2% he means individuals making more than $200000 and couples taking in 250,000 or more. republicans say rates shouldn't be increased on anyone. with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house ta
cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congress find a gentler way to solve the crisis in the federal budget. here's how treasury secretary tim geithner put it on cnbc. >> is the administration prepared to go over the fiscal cliff? >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. ren, it's only 2%....
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proffer here in the fiscal cliff negotiations. this is the proffer that apparently treasury secretary tim geithner was talking to republican leaders about today. wall street journal citing a number of specifics from this proposal. let me walk you through them and lay out the implications starting with what aides describe as the white house wanting $1.6 trillion in tax increases up front as part of any new deal. the white house wanting to continue the payroll tax credit or similar policy. the white house saying that it wants a permanent increase in the debt limit and pushing a one-year extension of jobless benefits plans. this one will be the kicker, i think, to any deal that might or might not get hashed out on capitol hill. "the wall street journal" reporting that republican aides are saying that the white house would like to see at least $50 billion in new spending to spur the economy. so in a debate we're seeing over spending cuts, "the wall street journal" now reporting at the top of this hour that the white house would like t
proffer here in the fiscal cliff negotiations. this is the proffer that apparently treasury secretary tim geithner was talking to republican leaders about today. wall street journal citing a number of specifics from this proposal. let me walk you through them and lay out the implications starting with what aides describe as the white house wanting $1.6 trillion in tax increases up front as part of any new deal. the white house wanting to continue the payroll tax credit or similar policy. the...
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. >>> from nowhere to nonstarter, house republicans pitch their plan to avoid the fiscal cliff and like the president's plan they don't expect to win over the opposition. a sfl senate fight. will republicans reject a personal plea from their former leader bob dole. he's making a rare visit to the senate floor to make his case. and now that we've had a whole month to digest that election day data, where you'll find those who voted for every presidential winner since 1956. that's in today's deep dive. i'm chuck todd feeling a little clogged up as you might hear. the fiscal cliff counteroffer has one thing in common. the differences between the new republican plan and what the white house proposed are stark when it comes to taxes. the gop calls for $800 million in new taxes. it's half of what the white house asked for. republicans to $67 billion. the gop plan changes how security benefits would be calculated. why he favors tax rates instead of eliminating deductions. not enough revenue. less revenue equals more cuts in education. republicans ruled that out saying the new revenue would not
. >>> from nowhere to nonstarter, house republicans pitch their plan to avoid the fiscal cliff and like the president's plan they don't expect to win over the opposition. a sfl senate fight. will republicans reject a personal plea from their former leader bob dole. he's making a rare visit to the senate floor to make his case. and now that we've had a whole month to digest that election day data, where you'll find those who voted for every presidential winner since 1956. that's in...
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the longer the white house wait to get serious is a day closer going over the fiscal cliff and the harder it will be to find a solution. americans want washington to work together, to get our country back on track, and to ensure we leave it a better place than we found it for future generations. let's make the hard decisions. let's make those decisions we know must be made. thank you for listening. >> coming up, "the communicators" looks at privacy and communication. the condoleezza rice talks about education reform and cyber security. then the memorial service for then the memorial service for warren
the longer the white house wait to get serious is a day closer going over the fiscal cliff and the harder it will be to find a solution. americans want washington to work together, to get our country back on track, and to ensure we leave it a better place than we found it for future generations. let's make the hard decisions. let's make those decisions we know must be made. thank you for listening. >> coming up, "the communicators" looks at privacy and communication. the...
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fiscal cliff hits december 31. smack dab in middle of this vacation. he snub hawaii, body surfing. >> kimberly: conduct unbecoming. he said in the last 30 days he got woke up in one debate. other than that, he is kicking it on the "the view." check me out. pinch with a limp. >> brian: i believe he knows it's his economy now. clearly. he goes on vacation. if this is done he is not body surfing. he knows he will be tortured and ongoing katrina. john boehner is frustrated after a closed door meeting with geithner. >> eric: brian's point, vacation is on because president obama knows he has a deal. >> dana: i don't think -- well, one, the present doesn't have a spending cut plan. why is everyone looking at us. where is your plan, sir? now the democrats are starting to realize wait, i think they are on to us. president obama sacrificed going to hawaii with his family. going to stay behind. they will fawn over him for not going to hawaii. >> bob: that happened last year. if you accept the bush tax cut last time. family went off and obama stayed behind. it's t
fiscal cliff hits december 31. smack dab in middle of this vacation. he snub hawaii, body surfing. >> kimberly: conduct unbecoming. he said in the last 30 days he got woke up in one debate. other than that, he is kicking it on the "the view." check me out. pinch with a limp. >> brian: i believe he knows it's his economy now. clearly. he goes on vacation. if this is done he is not body surfing. he knows he will be tortured and ongoing katrina. john boehner is frustrated...
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but going over the fiscal cliff is serious business. >> reporter: any real deal-making is the stuff of quiet conversations and meetings. rob neighbors used the language of high-stakes diplomacy to respond to john boehner's complaint >> i thought the conversation was very direct. and as always, i appreciate directness. >> reporter: while the senate majority leader, harry reid, was very blunt about being pessimistic. >> i don't understand his brain, you should ask him. >> reporter: visiting their nation's capitol today, mixed expectations from tourists from georgia and texas >> i hope they get it, more than i did before the election. >> of course i'm nervous, you never know what politicians are going to do. >> reporter: democrats, still lifted by their election success, argued that voters chose higher tax rates for wealthy americans as part of any plan to cut the deficit. and say republicans will have to give in. >> did speaker john boehner get the message? because the message was work together. >> they're not going to openly concede on this point this far out from the deadline, but they
but going over the fiscal cliff is serious business. >> reporter: any real deal-making is the stuff of quiet conversations and meetings. rob neighbors used the language of high-stakes diplomacy to respond to john boehner's complaint >> i thought the conversation was very direct. and as always, i appreciate directness. >> reporter: while the senate majority leader, harry reid, was very blunt about being pessimistic. >> i don't understand his brain, you should ask him....
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, we will go over the fiscal cliff. this is a compromise on taxes. >> now as soon as speaker boehner's counter offer came out, the white house communications director responded, saying this is nothing new, saying it lacks specifics. i will tell you sort of behind the scenes there was a democratic leadership aid that told cnn that actually, soledad -- this may surprise you -- that the offer passed the laugh test. it does have some of the things that were in the grand bargain, that failed grand bargain worked out between -- where president obama and speaker boehner tried to work out last year. and also -- while certainly both sides are saying that specifics are lacking, there is certainly, i think, a feeling from some democrats that maybe it could have been worse. maybe they were expecting something that in their estimation might have been even more towards what republicans would want. >> brianna keilar, thank you. i guess we're supposed to be encouraged that everybody wasn't just giggling over the proposals. rks said the
, we will go over the fiscal cliff. this is a compromise on taxes. >> now as soon as speaker boehner's counter offer came out, the white house communications director responded, saying this is nothing new, saying it lacks specifics. i will tell you sort of behind the scenes there was a democratic leadership aid that told cnn that actually, soledad -- this may surprise you -- that the offer passed the laugh test. it does have some of the things that were in the grand bargain, that failed...
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there are late breaking developments tonight related to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the so-caldwell thee but does contain $800 billion in revenue through tax reform, another $600 billion in health savings and much more. all told, the net savings amount to around 2.2 trillion dollars. the white house responded to this letter by saying that the president is, quote, willing to compromise but not on the subject of making job creators pay more in taxes. however, what our tax and spend commander-in-chief fails to understand is that putting money into the hands of you, the american people, is the single best way to spur economic growth, and it's not just people like ronald reagan who understand this principle. bill clinton famously said the era of big government is over and the end of wel welfare as we know it. why? because government is not the answer. government is the proble
there are late breaking developments tonight related to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the so-caldwell thee but does contain $800 billion in revenue through tax reform, another $600 billion in health savings and much more. all told, the net savings amount to around 2.2 trillion...
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. >> the latest on the fiscal cliff talks. competing plans from the white house and republicans was little talk of compromise. if the white house plans raises taxes on any and come over to london and $50,000 with 350 billion in cuts to medicare and 200 billion in new stimulus and and fracture spending. the republican counter offer has deeper cuts to a medicare and reduces the social security cost of living increase. but it has no tax increases. it raises revenue through closing tax loopholes and this deductions. raising 800 billion over 10 years. does have a what the president is proposing.hite house he immediately rejected the republicans' proposal. the president is saying that he will not accept a proposal without a tax increase for the wealthier americans. it is 27 days until the fiscal cliff. >> u.s. officials say that the white house and its allies are weighing military options to secure serious chemical and biological weapons. this comes after u.s. intelligence reports show that the syrian regimen may be ready and those
. >> the latest on the fiscal cliff talks. competing plans from the white house and republicans was little talk of compromise. if the white house plans raises taxes on any and come over to london and $50,000 with 350 billion in cuts to medicare and 200 billion in new stimulus and and fracture spending. the republican counter offer has deeper cuts to a medicare and reduces the social security cost of living increase. but it has no tax increases. it raises revenue through closing tax...
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. >> i'm certain that if this is not good enough for the white house, we will go over the fiscal cliff. >> the white house rejects a republican counter offer. >> john boehner sent a proposal that offers more than $2 trillion in deficit reductions but no tax increase. >> he will not sign an extension of the bush era tax cuts for the top 2%. >> folks worried about the fiscal cliff, are you like me? are you worried about it and have no idea what it is? >> according to state tv iran's revolutionary guard captured a u.s. drone after it entered the iriranian air space over the persian gulf. >> but u.s. navy official says there are no missing drones. >> prince william and his wife katherine, expecting their first child. >> after the duchess was admitted to hospital. >> that child could grow up to be one of the most powerful unemployed people in the world. >> a search is under way in new york for a man accused of pushing another man to his death in the subway. >>> rg3, he made opportunities. >> 17-16 washington redskins. >> all that -- >> why don't you shut up? >> you are an embarrassment. >>
. >> i'm certain that if this is not good enough for the white house, we will go over the fiscal cliff. >> the white house rejects a republican counter offer. >> john boehner sent a proposal that offers more than $2 trillion in deficit reductions but no tax increase. >> he will not sign an extension of the bush era tax cuts for the top 2%. >> folks worried about the fiscal cliff, are you like me? are you worried about it and have no idea what it is? >>...
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we have mike at the white house with more. >> reporter: exactly one month ago to avoid the fiscal cliff and after a period of optimism and what we have right now is a typical white house standoff. visiting a toy factory outside philadelphia, president urged congress to act and avoid the fiscal cliff. if not, taxes go up for everyone, including the middle class. >> that is like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: the president has started a new campaign for votes in congress. a grassroots effort on twitter and a friday trip in swing distri districts. allow rates to rise on the upper 2% of earners while extending lower rates for everyone else. >> it is not acceptable for you for the handful of republicans and democrats in congress to hold tax cuts hostage because they don't want tax rates to go up on upper income folks. >> reporter: mr. obama's opening bid includes $1.6 trillion in new revenue. half from higher rates in the wealthy. cuts in medicare and $50 billion in new infrastructure spending. when tim geithner laid out the plan for mitch mc
we have mike at the white house with more. >> reporter: exactly one month ago to avoid the fiscal cliff and after a period of optimism and what we have right now is a typical white house standoff. visiting a toy factory outside philadelphia, president urged congress to act and avoid the fiscal cliff. if not, taxes go up for everyone, including the middle class. >> that is like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: the president has...
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. >> today house speaker john boehner rejected president obama's proposal to avoid the fiscal cliff. boehner said no progress was made. boehner accused democrats of not being serious of real spending cuts. but democrats say republicans are causing the hold up. the proposal consisted of $1.6 trillion in higher taxes, they also wanted 50 billion for infrastructure. the president in return approved spending cuts this year and legislation for saving up to $400 million for programs like medicare over a decade. >>> former rivals president obama and governor romney spoke in private. and what they said remains in private. the white house did release a photo and reported that they had white turkey chili and south western chicken salad. when romney arrived, a man ran up to him and said something. secret service quickly ran up to him. >>> imagine running the equivalent of a marathon a day. patty lee shows us what inspired a 25-year-old san francisco woman to spend the past five months making this cross country journey. >>> it took four months, 3,200 miles and 12 pairs of running shoes to get he
. >> today house speaker john boehner rejected president obama's proposal to avoid the fiscal cliff. boehner said no progress was made. boehner accused democrats of not being serious of real spending cuts. but democrats say republicans are causing the hold up. the proposal consisted of $1.6 trillion in higher taxes, they also wanted 50 billion for infrastructure. the president in return approved spending cuts this year and legislation for saving up to $400 million for programs like...
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. >> today house speaker john boehner rejected president obama's proposal to avoid the fiscal cliff. boehner said no progress was made. boehner accused democrats of not being serious of real spending cuts. but democrats say republicans are causing the hold up. the proposal consisted of $1.6 trillion in higher taxes, they also wanted 50 billion for infrastructure. the president in return approved spending cuts this year and legislation for saving up to $400 million for programs like medicare over a decade. >>> former rivals president obama and governor romney spoke in private. and what they said remains in private. the white house did release a photo and reported that they had white turkey chili and south western chicken salad. when romney arrived, a man ran up to him and said something. secret service quickly ran up to him. >>> imagine running the equivalent of a marathon a day. patty lee shows us what inspired a 25-year-old san francisco woman to spend the past five months making this cross country journey. >>> it took four months, 3,200 miles and 12 pairs of running shoes to get he
. >> today house speaker john boehner rejected president obama's proposal to avoid the fiscal cliff. boehner said no progress was made. boehner accused democrats of not being serious of real spending cuts. but democrats say republicans are causing the hold up. the proposal consisted of $1.6 trillion in higher taxes, they also wanted 50 billion for infrastructure. the president in return approved spending cuts this year and legislation for saving up to $400 million for programs like...